Bankruptcy Trial for Troubled Bulgarian Military Plant Postponed

The Plovdiv District Court has postponed the bankruptcy trial for Bulgaria's ailing state-owned military plant VMZ Sopot. Photo by BGNES

The Plovdiv District Court has postponed the bankruptcy trial for Bulgaria's ailing state-owned military plant VMZ Sopot.

In a Monday closed-door session, the Plovdiv-based court scheduled the next hearing for February 18 to allow the defendant and the court authorities to gather evidence, according to the reports of the Bulgarian Telegraph Agency (BTA).

The bankruptcy proceedings were commenced by Mechanical Plant-Devin AD and on Monday the court allowed First Investment Bank AD to step in as a second creditor.